WEEKLY CHART OF USD
- First chart is the Weekly line chart with trend line and resistance line drawn at 79. The supporting trend line was violated recently but price did not sustain below the trend line for too long and came back above it.
- There is a broadening bottom pattern which is developing in daily chart. If this gives a breakout then dollar may start moving up fast. 79 is what the dollar need to close above for moving up.
- Price is finding resistance near the 50 DMA. If price breaks and sustains above this level that can trigger a reversal in dollar.
- Staying below the 50 DMA and closing below the weekly trend line can give fresh lows for US Dollar.
- DOW JONES WEEKEND UPDATE